The Best of the 2019 CMT Symposium
Last week some of the most reputable technical analysts gathered in New York's Financial District for the 2019 CMT Symposium. It's one of the most important events in technical analysis, as it brings together some of the brightest minds in the field and promotes the fusion of ideas that helps to move the discipline forward.
The Chart Report had the pleasure of sponsoring the event. We printed out this special first quarter edition highlighting some of our best articles. We had some of the best analysts sign a few copies and yes, we fully plan on framing it.
There was a ton of wisdom and unique perspectives shared. Here are some of the best quotes from the event.
“Why do we have two eyes and one mouth...? Because God knew it was twice as important to look at the charts then talk about the fundamentals” - Paul Ciana (@PaulCiana)
“We don’t predict where the market will go but the offensive team is still on the field, run your offense” - Tom Dorsey (@tomdorsey)
"I have not yet met a person who doesn’t love making money. But I’ve met a sh*t ton of people who hate losing money." - Nick Radge (@thechartist)
“The fear of a loss is greater than the joy of a gain” - Michael Santoli (@michaelsantoli)
“Price is truth, and money flow is a lie detector of price” - Terence Brogan
“When we get a move in Shanghai like the one we’ve seen, it doesn’t just go up 30%... it goes up a lot more than that.” - Todd Sohn (@Tsohn15)
“The markets largest player, the algo, is 100% technical” - Blaze Tankersley
“History may not repeat but it does rhyme” - Craig Johnson (@cwjmn)
"Economists are smart people, but you can't make money with them." - Rick Bensignor
“People lost half their money twice the last decade, and when the market goes down -20%, people are super pessimistic and think it's coming again. So for that reason, I don’t think we’ll see another one of those big, 50% drops for a couple of decades.” - Tom O’Halloran
"Job #1 of a portfolio manager is to see the world for what it is and not what you want it to be" - Jason Voss (@theIntuitInvest)
The Godfather of technical analysis himself, Ralph Acampora was in attendance. He sat down with The Chart Report for an exclusive interview, where he told us about how he got his start in the industry and the origins of the CMT Association. The video interview will be out soon, in the meantime, here are some great things that Ralph was overheard saying:
"I don't call it technical analysis anymore, I call it data visualization"
“Price is fact, earnings can be restated”
“The only person you can trust in your life is your Mom, and the first three letters of ‘momentum’ are M-O-M!”
The keynote speaker at the event was famed investor George Noble. He spoke about how he incorporates technical analysis into his investment approach and spoke about his high-conviction, bearish thesis on Tesla ($TSLA).
"Tesla is the biggest bubble in the entire stock market right now”
"This is the beginning of the end. Competition is coming...I think Tesla is going bankrupt."
“Focus on what’s actionable”
“When you’re on the wrong side of a trade, you don’t own the trade, the trade owns you”
"Using Technical Analysis without understanding it is like leaving a child with a loaded gun"
"You can have the right idea, but pick the wrong instrument. It's sheer hell."
We look forward to attending next year's CMT Symposium. In the meantime, check back with The Chart Report as we will be covering all of the themes discussed at this event, throughout the year.